Mkts plunge on profit booking
Microsoft outage also hits the sentiment; Sensex tanks 739 pts while investors lose Rs 7.94 lakh cr
image for illustrative purpose
The overvalued market is also experiencing profit booking ahead of the budget next week - Vinod Nair, Head of Research, Geojit Financial Services
Losing streak
- 4-day record breaking rally ends
- Weak global cues also take toll
- Sensex settles below 81,000 pts
- Nifty ends at 24,530 after fresh peak
- Fall in blue-chips drags mkts lower
Mumbai: Equity benchmark indices Sensex and Nifty tumbled on Friday as investors rushed to book profits after four days of record-breaking rally and the global sell-off triggered by an IT outage that caused devices to crash globally. Fall in blue-chip Reliance Industries also dragged the benchmarks lower.
The 30-share BSE Sensex hit its new all-time high of 81,587.76 in the initial trade but failed to carry forward the winning momentum and tanked 738.81 points or 0.91 per cent to settle below the 81,000-mark at 80,604.65. During the day, it plunged 844.36 points or 1.03 per cent to 80,499.10. Due to the fall on Friday, investors’ wealth diminished by Rs 7.94 lakh crore. Tracking the bearish trend in equities, the market capitalisation of BSE-listed firms eroded by Rs 7,94,059.53 crore to Rs 4,46,38,826.75 crore ($5.34 trillion). The BSE benchmark had hit the 81,000-mark for the first time on Thursday.
The NSE Nifty tumbled 269.95 points or 1.09 per cent and ended at 24,530.90 after hitting its fresh record peak of 24,854.80 during the opening bell. During the day, it declined 292.7 points or 1.18 per cent to 24,508.15.
Among the Sensex pack, Tata Steel tumbled over 5 per cent while JSW Steel tanked nearly 5 per cent.
